Public staff face hike in payments to pension

Almost 270,000 public sector staff face a hike in pension contributions to fund their ‘gold-plated’ schemes as the Government emphasises the economy is still recovering.

The Public Sector Pay Commission has found that people who joined the public service before 2013 and are on fast accrual schemes enjoy pensions which are 12% to 18% more valuable than in the private sector — and this must be addressed.

The report suggests that these workers be forced to make a larger contribution to their pensions, even as the Government’s existing pension levy is reversed.